This excerpt taken from the CPKI 10-Q filed Aug 12, 2005.
SECTION 6. GENERAL PROVISIONS
(a) Plan Amendments. The Committee may at any time amend, suspend or terminate the Plan. Stockholder approval shall be obtained for any amendment to the extent necessary and desirable to qualify the awards hereunder as performance-based compensation under section 162(m) of the Code and to comply with applicable laws, regulations or rules.
(b) Benefits Unfunded. No amounts awarded or accrued under this Plan shall be funded, set aside or otherwise segregated prior to payment. The obligation to pay the bonuses awarded hereunder shall at all times be an unfunded and unsecured obligation of the Company. Eligible Employees shall have the status of general creditors and shall look solely to the general assets of the Company for the payment of their bonus awards.
THE CALIFORNIA PIZZA KITCHEN, INC.
EXECUTIVE BONUS PLAN
(c) Benefits Nontransferable. No eligible Employee shall have the right to alienate, pledge or encumber his or her interest in this Plan, and such interest shall not (to the extent permitted by law) be subject in any way to the claims of the Employees creditors or to attachment, execution or other process of law.
(d) No Employment Rights. No action of the Company in establishing the Plan, no action taken under the Plan by the Committee and no provision of the Plan itself shall be construed to grant any person the right to remain in the employ of the Company or its subsidiaries for any period of specific duration. Rather, each Employee will be employed at will, which means that either such Employee or the Company may terminate the employment relationship at any time and for any reason, with or without cause or notice. No Employee shall have the right to any future award under the Plan.
(e) Governing Law. The Plan and any actions taken in connection herewith shall be governed by and construed in accordance with the laws of the state of California (without regard to applicable Delaware principles of conflict of laws).